In many areas of the United States prices have risen even higher that projected. The median price of homes in the first quarter of 2017 was up 6.9% compared to the 3.9% that Realtor.com had forecast for 2017.
"Prices are increasing faster than we expected them to because of the continual shortage of new homes coming onto the market," says Senior Economist Joseph Kirchner of realtor.com. "People that had been holding back on buying a home ... now have good, steady jobs and are less worried about losing their jobs and hence are going into the housing market."
This is a great time for homeowners to list their homes "For Sale". In most cases they will be able to sell rather quickly. However finding another home may be a challenge with all of the Buyers competing and driving prices higher.
Finding a Buyer's Agent that offers a Home Buyer Rebate (aka - Agent Commission Split) can make buying a home considerably more affordable.